Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on TNG LTD. We currently have 10 research reports from 2 professional analysts.
Frequency of research reports
Research reports on
VSA Morning Miner
20 Jun 16
TNG Limited (TNG AU) has announced an AU$4m placement led by SMS Group with a contribution of AU$1.5m which underpins the strong support that the group has provided for TNG to date. SMS had agreed to provide assistance with obtaining project financing primarily through Export Credit Agencies for the construction of the TIVAN refinery. Furthermore, SMS signed a binding agreement in May for the engineering, design and construction of the refinery.
TNG’s Metals of the Future get place in S&P Index
01 Jun 16
TNG’s progress towards production continues with two out of three product offtakes now in place, a binding agreement for the refinery design, potential for international processing plant sales or licensing, an MoU for mine/refinery building and mine operation, and recognition by S&P through its inclusion in the ASX All Ordinaries Index.
VSA Battery Market Recharge
23 Mar 16
Lithium stocks have doubled and doubled again over the past 18 months as reports of US$12,000/t lithium carbonate spot purchases have spread from China with demand growing strongly on the back of rising electric vehicle sales. Although the fundamentals of the lithium market remain attractive, in our view, we believe that stocks now appear expensive and we expect a correction following such a sharp rally. Valuations now reflect the upper end of spot price reports, however, the spot market reflects only a small portion of annual transactions and we expect annual pricing negotiations between the majors to result in more modest increases YoY to around US$8-9,000/t for lithium carbonate and US$9-10,000/t for lithium hydroxide in 2016. Furthermore, recent transactional activity demonstrates clearly the divergence between fair value and current market valuations.
VSA Morning Miner
02 Feb 16
TNG Limited (TNG AU) has signed a binding agreement with the German engineering firm SMS Group who will support the next phase for the TiVAN refinery. We believe that SMS’ continued involvement is positive since the group have already been heavily involved with the Mount Peake V-Ti-Fe project, in particular during the test work and optimisation phase of the TiVAN metallurgical process.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.
Minor delay but lower cost and better visibility enhance the investment profile
13 Jan 17
First oil at Stella is delayed by about a month, reducing the contribution of Stella to FY17 production by the same period. While this has an impact on FY17e free cash flow, this is negligible to our valuation. More importantly, FY17 opex are estimated at only US$18/boe, below our estimates of US$20/boe. There are opportunities to reduce opex further. Harrier is expected to reach first oil in 2018, one year earlier than we expected and at a cost of US$40 mm lower than we anticipated. The overall development cost is less than US$6.0/boe. Ithaca holds numerous discoveries around Stella that would be developed with a similar cost structure to Harrier.